"A 68 product list will help consumers compare prices and cause chains to lower prices"

by Ifi Reporter Category:Government Jan 20, 2019

The Central Bureau of Statistics and the Ministry of Economy built a basket of 68 products to help consumers compare prices and cause chains to lower prices. These are products such as milk and dairy products, bread, meat and fish products, dry food, fruit and vegetables, and toiletries and cleaning products. According to the Central Bureau of Statistics, the basket accounts for 45% of the total household expenditure.
In the basket are included basic products that are best sellers, so argue the Ministry of Economy. The basket "will enable monitoring of the monthly price changes of the products in the basket, and will be published quarterly." Among the products to be included in the basket: Night toilet paper 32 rolls, natural white yogurt 200 ml Danone, kg of tomatoes, cottage Tnuva 5% fat 250 g, tuna 160 g Starkist and kg chicken breast.
The prices of the basket in the various networks will be published on the websites of the Ministry of Economics and the CBS, and today consumers have sites and applications of price comparisons that allow comparison of the cost of a personal basket of products at different branches of large chains.
An examination conducted by the Consumer Council shows that the average cost of the basket in December 2018 was NIS 970.2. The price gap between the most expensive chain is my Shufersal chain, with NIS 1,059 (the most expensive of which is "Rami Levy" with NIS 878), is NIS 200. This is a gap of 17%. The Israel Consumer Council intends to make a constant monthly comparison of the basket prices in the various chains.
The Ministry of Economy's directive states that the products were chosen according to three criteria: their relative weight in the Household Expenditure Survey, conducted by the Central Bureau of Statistics; The level of variance between income quintiles in Israel in the manner in which basic products are selected and consumed by all quintiles; Products sold throughout the year.
"In each update of the product price basket, the total cost of purchasing the product basket (one unit per product), the average monthly price of each product, and the rate of change in the total basket cost will be published.
"The average cost of the selected product basket was NIS 1,090 in 2017 and NIS 1,086 in January-October 2008. The basket accounts for 45% of the total household expenditure on food, including fruit and vegetables, and toiletries and toiletries.

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